Reinsurance News
Aon news
Aon news, related to the insurance and reinsurance broking operations of the global consultancy and intermediary business.
Aon is one of the world’s largest brokers of both insurance and reinsurance business.
Aon appoints Vincent Banton as Head of Construction and Infrastructure, Asia
5th September 2023
Global insurance and reinsurance broker Aon has announced the appointment of Vincent Banton as Head of Construction and Infrastructure for Asia, effective August 1st. Banton will be based out of Singapore and report to Paul Young, Head of Commercial Risk Solutions, Asia and James MacNeal, Global Industry specialty leader for Construction ... Read the full article
Aon teams with Rubrik to help companies maintain cyber resiliency
1st September 2023
Aon, a leading global professional services firm has collaborated with Rubrik, the Zero Trust Data Security company, to help businesses maintain cyber resiliency against modern threats. By working together, Rubrik will be able to expand its portfolio of data protection solutions available to the Rubrik Transform Partner Ecosystem. At the same time, ... Read the full article
Losses from Canada wildfires could reach into the billions: Aon
29th August 2023
Losses from the ongoing wildfire season across Canada could reach into the billions of USD, according to a new report from Aon. As per Aon's weekly cat report released on August 25, more than 1,000 fires were burning in Canada across several provinces and territories. "Over the past week, parts of the ... Read the full article
Millions in economic and insured losses emerge after Hurricane Hilary’s devastating impact: Aon
25th August 2023
In the aftermath of Hurricane Hilary's unprecedented impact on the western United States and Mexico, the region is grappling with significant economic and insured losses that could potentially soar into the hundreds of millions of USD, according to Aon's latest weekly cat report. Hurricane Hilary, initially forming west of Central America ... Read the full article
Aon names Qin Lu as head of Greater China
22nd August 2023
Aon has named Qin Lu as head of Greater China to "bring together risk capital and human capital capabilities." In the new role, Lu will oversee Aon's business in mainland China, Hong Kong, Macau and Taiwan. Earlier this year, the firm created a new Greater China sub-region for these markets to "better ... Read the full article
APAC sees increased demand for solutions in Q2, insurers focused on retention and growth: Aon
21st August 2023
An increased demand for insurance solutions has been seen in the Asia-Pacific region (APAC) as its economies open to the rest of the world and businesses look to grow, this was met by insurers focused on retention and targeted growth, according to Aon’s Q2 2023 Global Market Insights report. The pricing ... Read the full article
BMA & White Rock joint action violates automatic stay provision, says Vesttoo
21st August 2023
In a recent filing to the U.S. bankruptcy court, insurtech Vesttoo has said that joint action launched in the Supreme Court of Bermuda by the Bermuda Monetary Authority (BMA) and Aon's White Rock (SAC) Ltd. last week, violates the automatic stay under its Chapter 11 cases. On Friday, the BMA ... Read the full article
Bermuda’s BMA & Aon’s White Rock to jointly pursue insurtech Vesttoo in court
18th August 2023
The Bermuda Monetary Authority (BMA) and White Rock (SAC) Ltd., insurance and reinsurance broker Aon's segregated accounts and transformer vehicle, have launched action in the Supreme Court of Bermuda to pursue "maximum recovery" for re/insureds impacted by the alleged fraud linked to Vesttoo reinsurance deals. A statement released today by the ... Read the full article
Dynamic shifts reshape global insurance landscape in Q2’23: Aon
18th August 2023
In the second quarter of 2023, the global insurance market experienced a series of dynamic shifts that shaped pricing, capacity, underwriting practices, limits, deductibles, and coverages, according to the Aon Q2 2023 Global Market Insights report. The report indicates a prevailing upward pressure on pricing across most sectors of the insurance ... Read the full article
Vesttoo’s bankruptcy filing stops legal action pursued by Aon’s White Rock
16th August 2023
Insurtech Vesttoo's move to commence Chapter 11 bankruptcy protection in the U.S. has, for now, stopped the legal action against it from Aon's White Rock Insurance (SAC) Ltd. from proceeding, while the temporary restraining order to freeze its assets has been vacated. In court yesterday, counsel for White Rock, which is ... Read the full article
Vesttoo requests court deny injunction, says freezing of assets would destroy its business
15th August 2023
Israeli insurtech Vesttoo has requested that the New York court deny Aon's White Rock Insurance (SAC) Ltd.'s request for a preliminary injunction to freeze its assets, stating that this would ultimately destroy its business by "ending its ability to operate." Last week, White Rock sought an injunction freezing the assets ... Read the full article
Aon strengthens Risk Capital business with new leaders
15th August 2023
Global insurance and reinsurance broker Aon has announced the appointments of Joe Peiser as Chief Executive Officer (CEO) of Commercial Risk Solutions and Paul Shedden as head of advanced risk analytics for Risk Capital, effective immediately. In their new roles, Peiser and Shedden will work closely with Aon’s Chief Operating Officer, ... Read the full article
Alternative financing, ESG scrutiny to increase in M&A: Report
15th August 2023
Alternative financing is expected to increase over the next 12 months, according to Aon’s and data provider Mergermarket’s M&A Risk in Review latest edition. The survey revealed that 50 senior executives from corporate development teams, private equity firms and investment banks, dealmakers remain upbeat about the health of the M&A arena. Nearly ... Read the full article
Broker Aon’s White Rock vehicle demands $136.7m collateral return from Vesttoo
14th August 2023
Re/insurance broker Aon's White Rock Insurance (SAC) Ltd. is demanding that insurtech Vesttoo return $136.7 million in collateral that the segregated accounts and transformer structure distributed to the company. Last week, it was revealed that Aon, via its White Rock vehicle, has secured a temporary restraining order to freeze Vesttoo’s funds amid ... Read the full article
Court orders freezing of Vesttoo’s assets after Aon’s White Rock sought injunction
11th August 2023
Court documents show that global re/insurance broker Aon has secured a temporary restraining order to freeze the assets of under fire Vesttoo in the U.S. as the company pursues the insurtech via its segregated accounts and transformer structure, White Rock Insurance (SAC) Ltd. Aon's White Rock subsidiary offers reinsurance solutions via ... Read the full article